i need to write an email to a peer who i am opening a business with an cover certain topics that are related to business law, such as what type of entity to open, the co
i need to write an email to a peer who i am opening a business with an cover certain topics that are related to business law, such as what type of entity to open, the company's social responsibility and the ethics involved.
I also need to write two responses to two peers for their email
A thoughtful, substantive initial post must
• Be 300 to 400 words in length or a minimum of about ten (10) sentences.
• Respond to discussion prompt and demonstrate higher order thinking (apply, analyze, synthesize, evaluate, examine, pose, or connect course concepts to business law).
A thoughtful response must
• At least 150 words in length
• Reacting to classmate post and demonstrate higher order thinking (challenge, connect, suggest, question, or expand the post of peers)
Online discussions will be graded as follows: Points All elements must be present to receive the points at each level. Partial credit for each point level will not be awarded.
Comments 100 – 95 points
1. Posted a thoughtful response to the discussion by the due date; by midnight EST that demonstrates 100% mastery of content. (Respond Post)
2. Posted a thoughtful response to two classmates’ postings by the due date; by midnight EST. (Reaction Post)
3. Grammar and writing style 100% correct.
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Discussion 1
Over dinner, you and a colleague discussed a business venture you have talked about for a long time but have never taken action on. You want to produce and sell energy drinks. The two of you agreed to proceed with the idea as 50/50 equal financial partners, and your colleague asked you about the next steps to take: how should you proceed? You told your colleague that you would provide him/her with an email with your general thoughts about how to proceed.
Based on the materials from Weeks 1 and 2, prepare a short email to your colleague making suggestions for how best to proceed. Your email should, at a minimum, address the following:
1. Selection of an entity type for the two of you to form or not form. Specifically address your reasoning for selecting the chosen entity or the reason for not forming a legal entity;
2. Explain what you feel, in addition to the interests of the owners, are the chosen entity’s ethical and social responsibility while providing energy drinks to the general public;
3. Discuss the ethical implications you foresee if you proceed and in particular due to the fact that the two of you will be equal financial partners.
Requirement: Initial Post and a response to two (2) of your colleagues by the due dates.
PLEASE ORGANIZE YOUR RESPONSE IN ACCORDANCE WITH THE NUMBERS ABOVE. ANY ADDITIONAL COMMENTS SHOULD BE LISTED AFTER THESE.
Initial response is due by July 10 at midnight.
Two responses due by July 17 at midnight).
Example 1 ( main post)
Examples of the responses that this post received
Example 2 ( main post)
Example of the response for this post
Other examples:
Other examples
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INTRODUCTION TO ETHICS
Nature of Business Ethics
Ethics defined Principles of conduct governing individual or group
OR study of morality
Investigation that includes activity of investigating as well as results of investigation
Nature of Business Ethics
Morality – standards that individual or group has about what is right & wrong or good & evil
Moral standards – norms about kinds of actions believed to be morally right & wrong as well as values placed on what we believe to be morally god & morally bad
Moral norms “Always tell the truth” “It’s wrong to kill innocent people”
Moral values “Honesty is good” “Injustice is bad”
Nature of Business Ethics
Nonmoral standards – standards by which we judge what is good or bad and right or wrong in nonmoral way Standards of etiquette
Rules of behavior set by parents
Judgments of right or wrong are based on standards or norms
Nature of Business Ethics
Moral norms “Do not harm other people”
Do not lie to other people”
“Do not steal”
Nonmoral norms (conventional) “Do not eat with your mouth open”
“Do not chew gum in class”
“Do not wear socks that do not match”
Nature of Business Ethics
Moral norms & nonmoral norms From age of three we can distinguish moral & nonmoral
norms
From age of three we tend to think that moral norms are more serious than nonmoral norms & apply everywhere independent of what people say
Ability to distinguish moral between from nonmoral norms is innate & universal
Nature of Business Ethics
Characteristics of moral standards Involve serious wrongs or significant benefits
Preferred to other values including self-interest
Not established by authority figures
Felt to be universal
Associated with special emotions & vocabulary Act contrary to moral standard
“I feel guilty, ashamed, or remorseful”
Describe behavior as “immoral” or “wrong”
Experience loss of self-esteem
Nature of Business Ethics
Ethics – discipline that examines one’s moral standards or moral standards of society to evaluate their reasonableness & their implication for one’s life
Nature of Business Ethics
Normative study – investigation that attempts to reach conclusions about what things are bad or wrong or about what actions are right or wrong Aims to discover what ought to be
Descriptive study – investigation that attempts to describe or explain the world without reaching any conclusions about whether world is as it should be
Nature of Business Ethics
Business ethics – specialized study of moral right & wrong that concentrates on moral standards as they apply to business institutions, organizations & behavior
Nature of Business Ethics
Kinds of ethical issues Systemic – social, political, legal or economic systems
Corporate – corruption & its policies, culture, climate
Individual – decisions, behavior or character
Ethics Research
Focus of ethics research – seeks to explain why people behave in manner consistent with generally accepted norms of morality & why they sometimes violate those norms
Ethics Research
Prescriptive – how people ought to act suing various codes & principles Legal ethics Medical ethics Economics
Descriptive – scientific studies to observes how people tend to act based on certain individual & situational characteristics Psychology
Ethics Research
Some studies focus on unethical behavior—behaviors that clearly violates accepted norms of society Discrimination
Falsifying financial information
Violating environmental regulations
Prevalence of unethical behavior Research suggests that 76% of employees have observed
illegal or unethical conduct within past 12 months
Ethics Research
Some studies focus on “merely ethical behavior” Behavior that adheres to minimally accepted standard
of morality Obeying labor laws
Complying with formal rules & contracts
Ethics Research
Some studies focus on “especially ethical behavior” Behaviors that exceed minimally accepted standard of
morality Charitable giving
Whistleblowing
Four Component Model of Ethical Decision Making
Why do some authorities behave in unethically while others engage in ethical behavior?
Four-component model of ethical decision making Ethical behaviors result from multistage sequence
1) Moral awareness
2) Moral judgment
3) Moral intent
4) Ethical behavior
Four Component Model of Ethical Decision Making
Four Component Model of Ethical Decision Making
Moral awareness Authority recognizes that moral issue exists in situation
or principle is relevant
Four Component Model of Ethical Decision Making
Recognizing situation as ethical Framing it as one that requires ethical reasoning
Situation seen as ethical when it involves serious harm that is concentrated, likely, proximate, imminent & potentially violates moral standards
Four Component Model of Ethical Decision Making
Recognizing situation as ethical Obstacles to recognizing situation is ethical Euphemistic labelling – “downsizing”, “collateral damage” or
“enhanced interrogation techniques” Rationalizing our actions – terrorist sees himself or herself as
courageous fighter against brutal oppressor Diminishing comparisons – make harms appear minor Displacement of responsibility – “I was just following orders” Diffusion of responsibility – “I wasn’t very involved in situation” Distorting the harm – “No good evidence that anyone was hurt” Dehumanizing victim – victims not real or not full human beings Redirecting blame – innocent victim provoked by others or by
circumstances
Four Component Model of Ethical Decision Making
Moral awareness depends on characteristics of issue itself Moral intensity – degree to which issue has ethical
urgency Potential for harm is perceived to be high
Act that would injure 1,000 people vs. 10 people
Social pressure surrounding it Act violates social norm vs. act that seems similar to what
everyone else is doing
Four Component Model of Ethical Decision Making
Four Component Model of Ethical Decision Making
Moral awareness depends on way authorities observe & perceive events
Moral attentiveness Degree to which people chronically perceive &
consider issues of morality Likely to report that they face several ethical dilemmas in
typical day
Regularly think about issues of morality
Enjoy pondering moral issues
Four Component Model of Ethical Decision Making
Moral judgment Recognize moral issue exists but unable to determine
whether given course of action is right or wrong
Theory of cognitive moral development (Kohlberg) As people mature, they move through stages of moral
development Authorities that operate at more mature stages should
demonstrate better moral judgement
Four Component Model of Ethical Decision Making
Theory of cognitive moral development (Kohlberg) Preconventional stage – right vs. wrong viewed in
terms of consequences of cations for individual
Desire to obtain pleasure & avoid pain Relationships remain self-interested
“You scratch my back, I’ll scratch yours”
Children seek to avoid punishment
Children obey laws
Four Component Model of Ethical Decision Making
Theory of cognitive moral development (Kohlberg) Conventional stage – right vs. wrong is refenced to
expectations of family & society Seek approval of friends & family, conforming to
stereotypes about what is right Later, emphasize laws, rule & orders “Doing one’s duty” & “Maintaining social order”
Research suggests that most adults are at conventional stage
Four Component Model of Ethical Decision Making
Theory of cognitive moral development (Kohlberg) Principle (or postconventional stage) – right vs. wrong
referenced to set of defined, established moral principles Research suggests that 20% of Americans are at this
stage
Moral principles serves as prescriptive guides for making moral judgments
Four Component Model of Ethical Decision Making
Moral principles used in principle stage Consequentialist Utilitarianism – greatest good for greatest number
Egoisim – pursue short-term or long-term interests
Four Component Model of Ethical Decision Making
Nonconsequentialist Ethics of duties – act should be performable by
everyone with no harm; act should respect human dignity; act should be endorsed by others
Ethics of rights – act respects right of others (life, liberty, justice, etc.)
Virtue ethics – lead “good life” by adhering to virtues (wisdom, honesty, courage, etc.)
Four Component Model of Ethical Decision Making
Biases prevent us from getting information to make moral judgment Biased theories about the world Do not consider all stakeholders
Ignore possibility that public will find out
Discount consequences relatively far in the future
Do not take account of indirect effects
Four Component Model of Ethical Decision Making
Biases prevent us from getting information to make moral judgment Biased theories about others “We” differ from “them”
“Our” way is superior to “their” way is inferior
Ethnocentrism
Stereotypes
Four Component Model of Ethical Decision Making
Biases prevent us from getting information to make moral judgment Biased theories about oneself We believe that we are more capable, insightful,
courteous, honest, ethical & fair than others
Overconfident in our ability to control random events
Four Component Model of Ethical Decision Making
Moral intent Authority’s degree of commitment to moral course of
action Situational factors encourage people to go against moral
convictions Unethical cultures
Economic pressures from assigned goals or specific incentives
Four Component Model of Ethical Decision Making
Decisions to do what is ethical is influenced by our surroundings Ethical culture – kind of behavior organization
encourages or discourages by repeated use of examples of behavior, incentives for ethical behavior, clear rules, rewards for exemplary conduct
Four Component Model of Ethical Decision Making
Moral identity – degree to which person identifies as moral person Define themselves as compassionate, generous, kind,
fair & hardworking “Moderates” its effects of moral judgment on ethical
behavior
Four Component Model of Ethical Decision Making
Good intentions do not always result in good behavior Ego strength – ability to resist impulses & to follow
one’s convictions
Locus of control – whether person believes that what happens to him or her is due primarily within his or her control or the result of external forces (e.g., fate or chance)
Willingness to obey authority figures
Four Component Model of Ethical Decision Making
Tend to be ethical if: Morally aware
Sophisticated moral judgment
Posses strong moral intent
Ethical Behavior & Emotions
Recent research begun to examine relationship between emotions & moral attitudes Four component model of decision making Assumes that ethical decision making based on higher order
cognitive processes
Moral emotions Sympathy for those suffering Guilt about own unethical behavior Anger about injustice to others Disgust at violations to moral norms
Numerous studies suggest that moral reactions based on feeling rather than “cold” cognition
Ethical Behavior & Emotions
Case of Phineas Gage While setting explosive, 3 foot 7 inch bar flew into his
lower left jaw & out through top of his head
Ethical Behavior & Emotions
Intellectual abilities unharmed Could read & speak & performed well on cognitive
ability tests
BUT lost ability to experience emotion which took his ability to reason Made irrational choices behaving erratically & against
his self interests
Ethical Behavior & Emotions
Case of Phineas Gage “… emotions may not be intruders in bastion of reason
at all: they may be enmeshed in networks, for worse and for better”
Must have ability to experience emotions to be rational Emotions provide information that helps think process
Good decision making employs both thinking & feeling
Emotions are necessary for moral reasoning
Ethical Behavior & Emotions
Consider time when you hurt someone Did you feel angry or upset with yourself?
Consider time when you have seen someone else treated unfairly Did you feel contempt for person acting unfairly, or did you
engage in “cool” rational calculus of justice of situation?
Sense of emotion prompts ethical behavior Donating money to help others Apologizing & making amends Intervening on behalf of those who have been mistreated
,
Business Law
Tenth Edition
Chapter 42
Ethics and Social Responsibility of Business
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Learning Objectives
42.1 Describe how law and ethics intertwine.
42.2 Describe and apply the moral theories of business ethics.
42.3 Describe and apply the theories of the social responsibility of business.
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Law and Ethics
Ethics: A set of moral principles or values that governs the conduct of an individual or group
Rule of law and rule of ethics may demand the same response
Law may permit an act that is ethically wrong
Law may demand certain conduct, but a person’s ethical standards are contrary
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Exhibit 42.1: Law and Ethics
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Case 42.1: Business Ethics
Case
Wal-Mart Stores, Inc. v. Samara Brothers, Inc.
529 U.S. 205 (2000)
Supreme Court of the United States
Issue
Must a product’s design have acquired a secondary meaning before it is protected as trade dress?
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Major Theories of Business Ethics
Ethical Fundamentalism
Utilitarianism
Rawls’s Social Justice Theory
Ethical Relativism
Kantian Ethics
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Ethical Fundamentalism
A person looks to an outside source or a central figure for ethical rules or commands
This may be a book or a person
Ethical fundamentalism does not permit people to determine right and wrong for themselves
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Utilitarianism
People must choose the action or follow the rule that provides the greatest good to society
Origins in works of Bentham and Stuart
It has been criticized because:
It is difficult to estimate the “good” that will result from different actions
It is hard to apply
It treats morality as an impersonal calculation
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Kantian Ethics
A person owes moral duties based on universal rules
The rules are based on two principles
Consistency – All cases are treated alike with no exceptions
Reversibility – Actor must abide by the rule he or she uses to judge the morality of someone else’s conduct
Critics argue that it is hard to reach a consensus as to what the universal rules should be
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Case 42.2: Moral Theory of Law and Ethics
Case
POM Wonderful, LLC v. Coca-Cola Company
134 S.Ct 2228 (2014)
Supreme Court of the United States
Issue
Can a private party bring an unfair competition lawsuit under the Lanham Act against a competitor that challenges the truthfulness of a food label?
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Rawls’s Social Justice Theory (1 of 2)
A person has a social contract with all others in society to obey moral rules that are necessary for people to live in peace and harmony
Origins in work of Locke and Rousseau
The principles of justice should be chosen by persons who do not yet know their station in society
This veil of ignorance would permit the fairest possible principles to be selected
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Rawls’s Social Justice Theory (2 of 2)
Major criticisms of this theory
Establishing the blind “original position” for choosing moral principles is impossible in the real world
Many persons in society would choose not to maximize the benefit to the least advantaged persons in society
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Ethical Relativism
A person must decide what is ethical based on his or her own feelings as to what is right or wrong
No universal ethical rules to guide a person’s conduct
Critics argue that actions widely regarded as unethical, would be seen as ethical, depending on perpetrator’s viewpoint
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Case 42.3: Nondisclosure of Evidence
Case
Goodyear Tire & Rubber Company v. Haeger
137 S.Ct. 1178 (2017)
Supreme Court of the United States
Issue
Should the plaintiffs recover their entire lawyer’s fees of $2.7 million?
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Social Responsibility of Business (1 of 2)
Corporations and businesses should act with awareness of the consequences and impact that their decisions will have on others
Corporations and businesses are considered to owe some degree of responsibility for their actions
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Social Responsibility of Business (2 of 2)
Maximizing Profits
Moral Minimum
Corporate Citizenship
Stakeholder Interest
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Maximizing Profits
Corporation owes a duty to take actions that maximize profits for shareholders
Interests of other constituencies are not important in and of them
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Moral Minimum
Corporation’s duty is to make a profit while avoiding harm to others
As long as business avoids or corrects the social injury it causes, it has met its duty of social responsibility
Legislative and judicial branches of government have established laws to enforce moral minimum
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Sarbanes-Oxley Act
Companies must disclose whether they have a code of ethics for senior financial officers
Compelling public companies to act ethically in dealings with shareholders, employees, and other constituents
Makes certain conducts illegal and establishes criminal penalties for violations
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Stakeholder Interest
Corporation must consider the effects its actions have on persons other than its shareholders
Critics argue that it is difficult to harmonize the conflicting interests of stakeholders
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Corporate Citizenship
Business has a responsibility to do good
Corporations owe a duty to promote the same social goals as individual members of society
Major criticism of this theory is that the duty of a corporation to “do good” cannot be expanded beyond certain limits
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Public Benefit Corporations
A corporation that requires directors and officers to make decisions to accomplish general-public benefits and stipulated specific public benefit purposes stated in the articles of incorporation
Must consider stakeholders other than shareholders, such as employees, customers, suppliers, and the community, when making corporate decisions.
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Copyright
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23
,
Business Law
Tenth Edition
Chapter 34
Small Business, Entrepreneurship, and General Partnerships
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Learning Objectives (1 of 2)
34.1 Define entrepreneurship and describe the types of organizations that an entrepreneur can use to operate a business.
34.2 Define sole proprietorship and describe the liability of a sole proprietor.
34.3 Define general partnership and describe how general partnerships are formed and operated.
34.4 List and describe the rights of general partners.
34.5 List and describe the duties of general partners.
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Learning Objectives (2 of 2)
34.6 Explain the tort and contract liability of general partners.
34.7 Describe how a general partnership is dissolved and terminated.
Copyright © 2019, 2016, 2013 Pearson Education, Inc. All Rights Reserved.
Entrepreneur
Person who forms and operates a new business either by himself or herself or with others
Forms of Conducting Business
Sole Proprietorship
General Partnership
Limited Partnership
Limited Liability Partnersh
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